Guernsey moves up finance league

Guernsey has moved up to 12th place in the latest ranking of global financial centres.

Since the last survey six months ago the island has moved up four places, leapfrogging Jersey in the process.

Guernsey is also ahead of Luxembourg, the Isle of Man, the Cayman Islands and the British Virgin Islands in the Global Financial Centres Index.

Guernsey Finance said it showed the positive effect of promoting Guernsey during the economic downturn.

Bank deposits on Guernsey were �157bn at the end of 2008, while funds under administration were �200bn.

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